Car Affordability Calculator

Assumptions

You may have asked yourself: "How much of a car payment can I afford?" Typical frugal shoppers will assess their monthly income, take out taxes, and spend around 10–15% on a car payment however, the average car buyer spends 20-25% and some car fanatics can go as high as 50%. To get a handle on the reality and limits of the price range you can afford, our car affordability calculator uses your down payment, desired monthly payment, and the interest rate you are able to get, and calculates in the loan term, giving you a bottom line price to assist you in forming your car-buying short list.